news Alter ceasing operations

[Mkt Sales Leads]

Email received today:

Farewell​ Hi there, First and foremost, I would like to thank each and every one of you for using Alter to sell your domain names. We couldn't have come this far without your invaluable support. Over the last couple years we've been on a mission to transform the domain industry. However, despite all our attempts we weren't able to find a sustainable business model. So it is with a heavy heart I write to you today to say farewell. On April 2nd, all third-party domain listings will be removed from our marketplace. Seller accounts will remain active for the foreseeable future so those with a positive balance or pending installments can continue to cash out. Lastly, we realize this decision wouldn't be fair to sellers who spent money to have professional logos designed on our platform. So we have refunded all relevant payments back to your account balance which can be cashed out at any time. We truly wish you all the best in your future endeavors. It’s unfortunate that this wasn’t the outcome we wanted but we’re thankful to everyone that came with us on the journey. Sincerely, Deven Patel Founder & CEO

 

[aoxborrow]

what would you change to make it profitable?

 

[aoxborrow]

LOI sent to Deven, hopefully transition will start early next week, once Definitive Agreement is final and Escrow transaction processed. Let's shake things up in brandable domain marketplace

Are you saying he has accepted your offer in principle and you are purchasing Alter.com?

 

[F.E.]

I believe that each of my post contains very careful wording, as that 'hopefully' or something similar exists. If you're following this thread from very beginning you'll probably figure that out

EDIT: last one didn't, sorry about that. updated it

 

[F.E.]

Everyone might have a dream, but not the money to pursue that dream I do.

 

[johnn]

Sorry, I did not know that you are rich.

 

[postscripter]

I too got the email and it is helpful you posted it here in the event someone may not have seen/received it.

Mr. Patel and I do not know each other and we have never interacted in any capacity, but I just wanted to say this was a very classy thing for him and his team to do regarding notifying those using the site.

I've been self employed since being 15 years old (with a brief stint helping a friend for about 6 months) and I've seen many people make an attempt to start and operate a business with very few succeeding long term.

In all my years, I've never received a notice like this of someone terminating/canceling services. It truly made my heart heavy reading the email. I just wanted to say it was a very classy thing to do during these times when professional (an personal) courtesy has bottomed out.

May you do well in your next endeavor Mr. Patel and thank you for trying to give the industry a breath of fresh air.

what kind of notice companies give when closing? I mean what is so nice about this compared to what you see when companies notifying clients about closing?

 

[MadAboutDomains]

I would imagine paying for promotion and traffic generation.

Possibly, but surely if they put the correct names on their listings then the traffic should have been flowing in regardless?

 

[Future Sensors]

What's interesting, is that after Deven's Farewell message on 2022-03-19, at least 59 new domains have been submitted with nameservers pointing to Alter.

 

[F.E.]

Probably Alter forgot to close down domain submission form

 

[VJB]

Something cooking up.

 

[Charybdis]

I can still read in the admin area: "On April 2nd, all third-party domain listings will be removed from our marketplace."

This tells sellers to remove their domains as soon as possible. If someone wants to continue operating the marketplace, then you should at least remove this message. By the time you acquire the business it won't have any sellers left.

 

[Bob Hawkes]

I hope that if it appears possible/likely that Alter will continue, probably under new management, that the takedown date of April 2 will be extended, so that there will be an orderly continuation.

I understand that one, or more, of the possible new owners may desire to take it back to a conventional curated brandable marketplace, as it started, and many listings will at some point be taken down.

I am not surprised that ability to add domains continues, and a few new have been listed.

I have been monitoring the total number of domains, and it is surprising how few have yet migrated to somewhere else. Probably indicates hope that Alter will continue.

Bob

 

[Future Sensors]

it is surprising how few have yet migrated to somewhere else

Alter does not detect immediately that nameservers are already pointing elsewhere. Of the 831 domains I changed NS for on March 19th, only 60% has been detected by Alter so far.

 

[Bob Hawkes]

Alter does not detect immediaty that nameservers are already pointing elsewhere. Of the 831 domains I changed NS for on March 19th, only 60% has been detected by Alter so far.

I did not realize that. I had thought like many sites there was a daily check. That may explain why seems so little change. And as @eternaldomains says probably many are just last minute people.

Have others been refunded the logo design fees as mentioned in the email? I did not buy that many, but no refund yet. Was wondering if that is true for everyone, and waiting until April 2, or if I should inquire. << **Update I have been credited for my logo purchases. I think it was a cache issue for me as logging in out of settings and the amount showed**

Bob

 

[Charybdis]

Now I don't see the closure message in the admin area, so it isn't closing?

 

[Bonsu]

LOI sent to Deven, hopefully transition will start early next week, once Definitive Agreement is final and Escrow transaction processed. Let's shake things up in brandable domain marketplace

You are a very positive person and I'm liking it already

 

[Mkt Sales Leads]

Hi, does anyone know when it will be possible to add new domains to Alter? It's support is stubbornly silent

Best bet is to list /forward the nameservers of your names to the main marketplaces and wait to see what the new owner's next moves are with Alter.

 

[Reallybigidea.com]

"Business name generator" doesn't mean domain name marketplace at any certain aspect, so I believe marketing is misleading (unintentionally).

I posted about this on another thread..

 

[marijuanadomain]

It is nice and courteous that he informs his clients not like VOODOO

Voodoo just MIA without any trace and "Stole" our money

 

[Charybdis]

There's still a hope for Alter. More soon

Are you buying it? But sellers are already leaving the platform, if they want to sell the whole thing, then this farewell email was not a good idea.

 

[tomcarl]

If anyone has contact of this Patel guy, could you please reach him out and ask if he is interested in possible sellout of Alter.com?


If so, please let me know.

You gunna make em an offer he can't refuse?

Try the contact link on the site.

 

[LoveCatchyDomains]

Does this have any implications for Nameworth? This appraisal site seems to have a connection with Alter. Anyone have any insights on this?

 

[LoveCatchyDomains]

Negotiations already started, can't disclose much information on that regard. As said, one step at a time.

Wow, you work fast! Go for it!

 

[LoveCatchyDomains]

I don’t think there is any relation.

The Biix marketplace and NameWorth appraisal are related (same owner).

Alter developed their own 6-factor appraisal system which is part of Alter.

Thank you for clarifying that. I've appreciated the free appraisal services of Alter and Nameworth. They both are newer domain-related businesses, and I was hoping to see both thrive and expand their services. Perhaps Alter can spin off their appraisal services? We'll see.

 

[DomainNature]

My assumptions are that some domain investors are trying to buy Alter.com for their own portfolios, and not sure if they did already, but I just got it touch with Mr. Patel and if he's willing to sell Alter.com Inc as a whole business, I'll be acquiring it and probably leave things as is for some time, but I do have different vision for it, still in domaining industry.

Yes, have think the same.
There is a reason why this keyword is special, might be some corp want to acquire the domain.